Consulting Services
Vertical Fields leverages a successful history of repositioning, renovating and building self-storage facilities to offer existing or prospective owners a number of development services.
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Team Building & Management:
- Assemble and lead team of architects, engineers, consultants and contractors
- Negotiate and implement contracts with all third-party service providers
- Coordinate all Project Team meetings and communication
Initial Due Diligence:
- Provide market survey
- Provide initial pro forma and timeline
- Obtain and review all third-party reports such as surveys, appraisals, environmental and property condition reports
Permits & Approvals:
- Perform zoning analysis
- Manage zoning and entitlement process
- Manage parking, signage, storm water and other approval processes, as required
Pre-Construction:
- Manage production of construction drawings
- Meetings permitting process with Building Department
- Obtain building permit
Budget, Forecast and Financing:
- Develop operating budget and financial projections with potential third-party property manager(s)
- Research real estate taxes
- Estimate projected real estate taxes and research possible abatement
- Provide detailed pro forma and timeline throughout phases
- Assist in debt and/or equity financing, as required
Bidding:
- Bid jobs to multiple General Contractors
- Confirm construction delivery method and type of contract, contractor qualifications and resume
- Negotiate all construction contracts with contractors using AIA forms
Construction:
- Administer all construction contracts, in conjunction with counsel
- Administer payments and lien waivers
- Certify other payments during construction period (e.g. A&E, permit fees, utilities, insurance, property tax, etc.)
- Track budget during construction and alert owner to potential savings or cost overruns
Post-Construction Operations Management:
- Monitor third-party property manager on a monthly basis
- “Put out fires,” as needed
- Work with owner and third-party property manager annually on real estate taxes and insurance
- Work with accountants on annual tax return and K-1 filings
